The Ministry of Finance maintains that Zambia’s public external debt as at end of June 2018 stood at US$9.37 billion.

Ministry of Finance Head of Public Relations Chileshe Kandeta tells Money FM News that this represents 34.2 percent of Gross Domestic Product (GDP) against the threshold of 40 percent.

Mr. Kandeta says domestic debt stood at K51.87 billion (or US$5.87 billion).

He says this represents 18.9% of GDP.

“Total Public Debt, in US Dollars, therefore stands at approximately US$14.56 billion, representing 53.1% of GDP against a threshold of 56%”, he disclosed.

Mr. Kandeta states that arrears stood at K13.9 billion as at end June 2018 (or US$1.39 billion).

He has emphasized that the total public debt and arrears is US$15.95 billion taking into account the external debt, domestic debt and, arrears.

The Ministry of Finance Head of Public Relations further states that nominal projected GDP is US$27.4 billion in 2018.